Armenian government interprets decision of Arbitration Institute of  the Stockholm Chamber of Commerce on ENA case `in its own way` 

ArmInfo. The Armenian government interprets the decision of the Arbitration Institute of the Stockholm Chamber of Commerce in the case of nationalization of the Electric Networks of Armenia (ENA) company "in its own way."

"In connection with the decision of the Arbitration Institute of the  Stockholm Chamber of Commerce No.  EA 2025/121 of 22.07.2025, we  inform you that the scope of the issues (dispute) considered in the  urgent case differs from the purposes of the decision to appoint an  interim manager and the scope of actions that the latter must take.

In particular, the appointment of an interim manager pursues, among  other things, the prevention of the risks of deliberate creation of  an energy crisis, уensuring public order, eliminating possible risks  threatening state security, уpreventing the concealment of abuses in  ENA and preventing further abuses.

While respecting the interim measures applied by foreign arbitration  awards, everyone is obliged to be guided by the legislation of the  Republic of Armenia and international treaties establishing the rules  and procedures for the recognition and enforcement of arbitration  awards>, the Armenian Cabinet of Ministers said in a statement.

Earlier today, it was reported that the head of the Tashir Group of  Companies, Samvel Karapetyan, and his family won an arbitration  dispute against the Armenian government over the nationalization of  the ENA.  This was reported by Karapetyan's representatives.

The case was heard at the Arbitration Institute of the Stockholm  Chamber of Commerce (SCC) on the basis of the Agreement between  Armenia and Cyprus on the Promotion and Reciprocal Protection of  Investments of January 18, 1995. A representative of the Government  of the Republic of Armenia also participated in the hearing.

The court ruled that Armenia is obliged to refrain from applying the  amendments recently adopted by parliament to the laws "On Energy" and  "On the Public Services Regulatory Authority", as well as from any  further steps aimed at seizing ENA assets. The arbitration concluded  that urgent protective measures were required because the actions of  the Republic of Armenia "raise serious doubts about compliance with  the Agreement on Mutual Protection of Investments between Armenia and  Cyprus". The arbitration also noted that "in the absence of urgent  protective measures, it will be difficult for the plaintiffs to  obtain full compensation for damages if they lose control over the  company or, even worse, cease to be its owners".  The decision of the  emergency arbitration is subject to mandatory execution by the  government of the Republic of Armenia. The head of the Board of  Directors of the company, Narek Karapetyan, in turn, explained that  in this way the court prohibited the government of Armenia from  confiscating or selling ESA assets, changing the composition of the  company's governing bodies, revoking licenses for its activities and  in any way restricting the natural business activity of ENA.